The second-largest manufacturer of office furniture in North American and a
leading manufacturer of gas- and wood-burning fireplaces, HNI Corp. is a
collection of nine companies, including such readily recognizable names as The
HON Co. and Allsteel Inc.
HNI Corp. operates with a decentralize "split and focus" philosophy. "That way,
as a group we can serve, efficiently and effectively, every type of buyer --
from a person purchasing a file cabinet to a highly sophisticated corporation
with complex office furnishing needs; from a family wanting a new gas fireplace
to a large builder seeking to offer the latest technology an features in its
homes," the corporation states.
For 2005, HNI Corp. posted record sales of $2.5 billion (up 17.1% from 2004)
and record net income of $137.4 million (up 21% from 2004). Sales from
acquisitions during 2005 accounted for about $92 million (4.4%) of the
year-to-year sales increase.
"We anticipate 2006 will be another good year," said Stan Askren, HNI's
chairman, president and CEO, when 2005 financials were announced on Feb. 8,
2006. "We will continue to execute our strategy for aggressive profitable
growth, continuously investing in our core markets and strategic acquisitions
where we can generate returns to enhance shareholder value."
IW 50 Best Manufacturing Company
